The Timken Company (NYSE:TKR) Shares Sold by Rhumbline Advisers

Rhumbline Advisers cut its position in shares of The Timken Company (NYSE:TKRFree Report) by 5.3% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 181,722 shares of the industrial products company’s stock after selling 10,075 shares during the quarter. Rhumbline Advisers owned 0.26% of Timken worth $12,969,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Hotchkis & Wiley Capital Management LLC increased its position in Timken by 34.3% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 1,700,979 shares of the industrial products company’s stock worth $143,376,000 after buying an additional 434,800 shares in the last quarter. Verition Fund Management LLC increased its position in Timken by 3,179.1% during the third quarter. Verition Fund Management LLC now owns 193,858 shares of the industrial products company’s stock worth $16,340,000 after buying an additional 187,946 shares in the last quarter. Thrivent Financial for Lutherans grew its position in shares of Timken by 4.2% in the third quarter. Thrivent Financial for Lutherans now owns 2,679,790 shares of the industrial products company’s stock valued at $225,880,000 after purchasing an additional 107,350 shares during the period. Royce & Associates LP grew its position in shares of Timken by 73.2% in the third quarter. Royce & Associates LP now owns 190,456 shares of the industrial products company’s stock valued at $16,054,000 after purchasing an additional 80,513 shares during the period. Finally, State Street Corp grew its position in shares of Timken by 3.5% in the third quarter. State Street Corp now owns 1,953,838 shares of the industrial products company’s stock valued at $164,689,000 after purchasing an additional 66,208 shares during the period. 89.08% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

TKR has been the subject of a number of research reports. KeyCorp reissued a “sector weight” rating on shares of Timken in a research report on Friday, November 22nd. Bank of America raised Timken from an “underperform” rating to a “neutral” rating and boosted their price target for the company from $73.00 to $78.00 in a research report on Tuesday, February 4th. Citigroup reduced their price objective on Timken from $90.00 to $85.00 and set a “buy” rating on the stock in a research note on Tuesday, January 14th. Oppenheimer reduced their price objective on Timken from $102.00 to $97.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 6th. Finally, Jefferies Financial Group upgraded Timken from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $80.00 to $95.00 in a research note on Friday, December 6th. Four research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $92.70.

View Our Latest Stock Analysis on Timken

Insider Activity at Timken

In related news, CFO Philip D. Fracassa sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $81.50, for a total value of $407,500.00. Following the completion of the sale, the chief financial officer now owns 90,541 shares of the company’s stock, valued at $7,379,091.50. This trade represents a 5.23 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 8.70% of the stock is currently owned by company insiders.

Timken Stock Down 3.0 %

TKR stock opened at $81.26 on Friday. The company has a debt-to-equity ratio of 0.69, a current ratio of 3.07 and a quick ratio of 1.61. The company has a 50-day moving average of $76.61 and a two-hundred day moving average of $79.32. The Timken Company has a 52-week low of $69.35 and a 52-week high of $94.71. The stock has a market capitalization of $5.70 billion, a price-to-earnings ratio of 16.28, a price-to-earnings-growth ratio of 1.51 and a beta of 1.39.

Timken (NYSE:TKRGet Free Report) last announced its quarterly earnings results on Wednesday, February 5th. The industrial products company reported $1.16 EPS for the quarter, topping analysts’ consensus estimates of $1.08 by $0.08. Timken had a net margin of 7.71% and a return on equity of 13.93%. As a group, equities research analysts anticipate that The Timken Company will post 5.62 EPS for the current year.

Timken Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Tuesday, February 25th will be issued a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.67%. The ex-dividend date of this dividend is Tuesday, February 25th. Timken’s dividend payout ratio is currently 27.25%.

About Timken

(Free Report)

The Timken Company designs, manufactures, and sells engineered bearings and industrial motion products, and related services in the United States and internationally. The company's Engineered Bearings segment provides various bearing products, including tapered, spherical, and cylindrical roller bearings; plain bearings, metal-polymer bearings, and rod end bearings; radial, angular, and precision ball bearings; thrust and specialty ball bearings; journal bearings; and housed or mounted bearings.

See Also

Institutional Ownership by Quarter for Timken (NYSE:TKR)

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